2021 Q4 Form 10-K Financial Statement

#000125860222000024 Filed on February 28, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $398.4M $523.8M $326.1M
YoY Change 22.18% -15.46% -20.41%
Cost Of Revenue $76.89M $108.7M $76.60M
YoY Change 0.38% 3.47% -55.47%
Gross Profit $321.5M $415.2M $249.5M
YoY Change 28.87% -19.33% 4.96%
Gross Profit Margin 80.7% 79.26% 76.51%
Selling, General & Admin $143.8M $519.0M $136.6M
YoY Change 5.26% 0.64% 6.8%
% of Gross Profit 44.72% 125.01% 54.75%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $18.67M $132.3M $49.30M
YoY Change -62.12% -33.33% -1.79%
% of Gross Profit 5.81% 31.87% 19.76%
Operating Expenses $202.3M $726.3M $213.9M
YoY Change -5.44% -7.01% 14.81%
Operating Profit $119.3M -$311.2M $35.60M
YoY Change 235.04% 16.78% -30.74%
Interest Expense $50.27M $176.2M -$1.700M
YoY Change -3057.24% -46.61% -525.0%
% of Operating Profit 42.15% -4.78%
Other Income/Expense, Net $145.5M $45.39M
YoY Change -9.41% -2.82%
Pretax Income $168.2M $502.1M $302.2M
YoY Change -44.33% 11.46% 493.71%
Income Tax $39.08M $115.8M $70.57M
% Of Pretax Income 23.23% 23.07% 23.35%
Net Earnings $132.7M $393.3M $235.0M
YoY Change -43.54% 11.59% 454.49%
Net Earnings / Revenue 33.3% 75.08% 72.06%
Basic Earnings Per Share $10.20
Diluted Earnings Per Share $3.460M $10.20 $6.104M
COMMON SHARES
Basic Shares Outstanding 38.57M shares
Diluted Shares Outstanding 38.57M shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.127B $125.6M $511.9M
YoY Change 120.2% 3.77% 156.58%
Cash & Equivalents $125.6M $125.6M $121.2M
Short-Term Investments $1.002B $390.6M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $163.3M $163.3M $76.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $288.9M $288.9M $197.0M
YoY Change 46.64% 46.64% -79.96%
LONG-TERM ASSETS
Property, Plant & Equipment $119.4M $133.7M $123.5M
YoY Change -3.33% -5.83% -64.53%
Goodwill $142.1M $142.1M
YoY Change 0.0% -9.44%
Intangibles $52.03M $75.07M
YoY Change -30.69% -7.93%
Long-Term Investments $1.589B $1.589B $993.0M
YoY Change 60.01% 60.01% 302.02%
Other Assets $1.069B $1.069B $837.0M
YoY Change 27.67% 27.67% -23.14%
Total Long-Term Assets $21.39B $21.39B $22.45B
YoY Change -4.72% -4.72% -1.22%
TOTAL ASSETS
Total Short-Term Assets $288.9M $288.9M $197.0M
Total Long-Term Assets $21.39B $21.39B $22.45B
Total Assets $21.68B $21.68B $22.65B
YoY Change -4.27% -4.27% -4.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $366.0M $366.0M $301.0M
YoY Change 21.6% 21.6% -31.28%
Accrued Expenses $4.566M $25.57M $29.00M
YoY Change -84.26% -51.76% -64.2%
Deferred Revenue
YoY Change
Short-Term Debt $344.3M $344.3M $55.00M
YoY Change 526.03% 526.03%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $714.9M $735.9M $385.0M
YoY Change 85.68% 79.92% -25.82%
LONG-TERM LIABILITIES
Long-Term Debt $17.63B $17.63B $19.32B
YoY Change -8.75% -8.75% -5.88%
Other Long-Term Liabilities $379.2M $358.2M $312.0M
YoY Change 21.55% 24.39% 15.56%
Total Long-Term Liabilities $18.01B $17.99B $19.63B
YoY Change -8.27% -8.26% -5.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $714.9M $735.9M $385.0M
Total Long-Term Liabilities $18.01B $17.99B $19.63B
Total Liabilities $18.73B $18.73B $20.02B
YoY Change -6.46% -6.43% -6.1%
SHAREHOLDERS EQUITY
Retained Earnings $2.941B $2.622B
YoY Change 12.16% 10.27%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.951B $2.951B $2.632B
YoY Change
Total Liabilities & Shareholders Equity $21.68B $21.68B $22.65B
YoY Change -4.27% -4.27% -4.48%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $132.7M $393.3M $235.0M
YoY Change -43.54% 11.59% 454.49%
Depreciation, Depletion And Amortization $18.67M $132.3M $49.30M
YoY Change -62.12% -33.33% -1.79%
Cash From Operating Activities $155.2M $544.9M $39.80M
YoY Change 289.88% 156.03% -74.49%
INVESTING ACTIVITIES
Capital Expenditures -$16.36M $58.95M -$32.60M
YoY Change -49.82% -47.97% 31.45%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $658.9M $1.245B -$299.8M
YoY Change -319.76% 640.05% -184.02%
Cash From Investing Activities $642.5M $1.186B -$332.4M
YoY Change -293.29% 90.9% -200.12%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $56.65M
YoY Change -21.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -854.6M -$1.495B 349.5M
YoY Change -344.52% 36.12% -186.6%
NET CHANGE
Cash From Operating Activities 155.2M $544.9M 39.80M
Cash From Investing Activities 642.5M $1.186B -332.4M
Cash From Financing Activities -854.6M -$1.495B 349.5M
Net Change In Cash -56.94M $235.8M 56.90M
YoY Change -200.08% -189.25% -32.58%
FREE CASH FLOW
Cash From Operating Activities $155.2M $544.9M $39.80M
Capital Expenditures -$16.36M $58.95M -$32.60M
Free Cash Flow $171.5M $485.9M $72.40M
YoY Change 136.92% 388.34% -59.96%

Facts In Submission

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ProfitLoss
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ProfitLoss
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0 USD
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0 USD
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DeferredIncomeTaxExpenseBenefit
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ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
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CY2019 us-gaap Proceeds From Issuance Of Common Stock
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600000 USD
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0 USD
CY2021 us-gaap Proceeds From Minority Shareholders
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CY2021 us-gaap Nature Of Operations
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Description of Business<div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Nelnet, Inc. and its subsidiaries (“Nelnet” or the “Company”) is a diverse, innovative company with a purpose to serve others and a vision to make dreams possible. The largest operating businesses engage in loan servicing and education technology, services, and payment processing, and the Company also has a significant investment in communications. A significant portion of the Company's revenue is net interest income earned on a portfolio of federally insured student loans. The Company also makes investments to further diversify the Company both within and outside of its historical core education-related businesses, including, but not limited to, investments in early-stage and emerging growth companies, real estate, and renewable energy (solar). Substantially all revenue from external customers is earned, and all long-lived assets are located, in the United States.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company was formed as a Nebraska corporation in 1978 to service federal student loans for two local banks. The Company built on this initial foundation as a servicer to become a leading originator, holder, and servicer of federal student loans, principally consisting of loans originated under the Federal Family Education Loan Program (“FFELP” or “FFEL Program”) of the U.S. Department of Education (the “Department”).</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Health Care and Education Reconciliation Act of 2010 (the “Reconciliation Act of 2010”) discontinued loan originations under the FFEL Program, effective July 1, 2010, and requires that all new federal student loan originations be made directly by the Department through the Federal Direct Loan Program. This law does not alter or affect the terms and conditions of existing FFELP loans. As a result of this law, the Company no longer originates FFELP loans. However, a significant portion of the Company’s income continues to be derived from its existing FFELP student loan portfolio. Interest income on the Company’s existing FFELP loan portfolio will decline over time as the portfolio is paid down. Since all FFELP loans will eventually run off, a key objective of the Company is to reposition itself for the post-FFELP environment. To reduce its reliance on interest income on student loans, the Company has expanded its services and products. This expansion has been accomplished through internal growth and innovation as well as business and certain investment acquisitions. The Company is also actively expanding its private education and consumer loan portfolios, and in November 2020 launched Nelnet Bank (as further discussed below). In addition, the Company has been servicing federally owned student loans for the Department since 2009.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's reportable operating segments include:</span></div><div style="text-align:justify;text-indent:31.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:1pt"> Loan Servicing and Systems (“LSS”)</span></div><div style="text-align:justify;text-indent:31.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:1pt"> Education Technology, Services, and Payment Processing (“ETS&amp;PP”)</span></div><div style="text-align:justify;text-indent:31.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:1pt"> Communications</span></div><div style="text-align:justify;text-indent:31.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:1pt"> Asset Generation and Management (“AGM”)</span></div><div style="margin-bottom:9pt;text-align:justify;text-indent:31.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:1pt"> Nelnet Bank</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A description of each reportable operating segment is included below. See note 15 for additional information on the Company's segment reporting.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Loan Servicing and Systems</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The primary service offerings of the Loan Servicing and Systems operating segment (known as Nelnet Diversified Services (“NDS”)) include:</span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Servicing federally-owned student loans for the Department of Education</span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Servicing FFELP loans</span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Originating and servicing private education and consumer loans</span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Backup servicing for FFELP, private education, and consumer loans</span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Providing student loan servicing software and other information technology products and services</span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Customer acquisition, management services, and backup servicing for community solar developers</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Providing outsourced services including call center, processing, and technology services</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">LSS provides for the servicing of the Company's student loan portfolio and the portfolios of third parties. The loan servicing activities include loan conversion activities, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliations, and claim processing. These activities are performed internally for the Company's portfolio, in addition to generating external fee revenue when performed for third-party clients. In addition, LSS provides backup servicing to third-parties, which allows a transfer of the customer’s servicing volume to the Company’s platform and becoming a full servicing customer if their existing servicer cannot perform their duties.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Nelnet Servicing, LLC (“Nelnet Servicing”) and Great Lakes Educational Loan Services, Inc. (“Great Lakes”), subsidiaries of the Company, are two of the current seven private sector entities that have student loan servicing contracts with the Department to provide servicing capacity for loans owned by the Department.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">This segment also provides student loan servicing software, which is used internally and licensed to third-party student loan holders and servicers. These software systems have been adapted so that they can be offered as hosted servicing software solutions usable by third parties to service various types of student loans, including Federal Direct Loan Program and FFEL Program loans.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This segment also provides business process outsourcing primarily specializing in contact center management. The contact center solutions and services include taking inbound calls, helping with outreach campaigns and sales, interacting with customers through multi-channels, and processing and technology services.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Education Technology, Services, and Payment Processing</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Education Technology, Services, and Payment Processing segment (known as Nelnet Business Services (“NBS”)) provides education services, payment technology, and community management solutions for K-12 schools, higher education institutions, churches, and businesses in the United States and internationally. NBS provides service and technology under five divisions as follows:</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">FACTS provides solutions that elevate the education experience in the K-12 market for school administrators, teachers, and families. FACTS offers (i) financial management, including tuition payment plans and financial needs assessment (grant and aid); (ii) school administration solutions, including school information system software that automates the flow of information between school administrators, teachers, and parents and includes administrative processes such as scheduling, cafeteria management, attendance, and grade book management; (iii) enrollment and communications, including website design and cost effective admissions software; (iv) advancement (giving management), including a comprehensive donation platform that streamlines donor communications, organizes donor information, and provides access to data analysis and reporting; and (v) education development, including customized professional development and coaching services, educational instruction services, and innovative technology products that aid in teacher and student evaluations.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Nelnet Campus Commerce delivers payment technology to higher education institutions. Nelnet Campus Commerce solutions include (i) tuition management, including tuition payment plans and service and technology for student billings, payments, and refunds; and (ii) integrated commerce including solutions for in-person, online, and mobile payment experiences on campus.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">PaymentSpring provides secure payment processing technology. PaymentSpring supports and provides payment processing services, including credit card and electronic transfer, to the other divisions of NBS in addition to other industries and software platforms across the United States.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Nelnet Community Engagement provides faith community engagement, giving management, and learning management services and technologies. Nelnet Community Engagement serves customers in the technology, nonprofit, religious, health care, and professional services industries.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Nelnet International provides its services and technology in more than 50 countries with the largest concentrations in Australia, New Zealand, and the Asia-Pacific region. Nelnet International serves customers in the education, local government, and healthcare industries. Nelnet International’s suite of services include an integrated commerce payment platform, financial management and tuition payment plan services, and a school management platform that provides administrative, information management, financial management, and communication functions for K-12 schools.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Communications</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ALLO Communications LLC (“ALLO”) provides pure fiber optic service to homes and businesses for internet, television, and telephone services. ALLO derives its revenue primarily from the sale of communication services to residential, governmental, and business customers in Nebraska and Colorado. Internet and television services include revenue from residential and business customers for subscriptions to ALLO's data and video products. ALLO data services provide high-speed internet access over ALLO's all-fiber network at various symmetrical speeds of up to 1 gigabit per second for residential customers and is capable of providing symmetrical speeds of over 1 gigabit per second for business customers. Telephone services include local and long distance telephone service, hosted PBX services, and other services.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 21, 2020 the Company deconsolidated ALLO from the Company’s consolidated financial statements due to ALLO’s recapitalization. The recapitalization of ALLO was not considered a strategic shift in the Company’s involvement with ALLO and ALLO’s results of operations, prior to deconsolidation, are presented by the Company as a reportable operating segment. See note 2, “ALLO Recapitalization,” for a description of this transaction and the Company’s continued involvement.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Asset Generation and Management</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's Asset Generation and Management operating segment includes the acquisition, management, and ownership of the Company's loan assets (excluding loan assets held by Nelnet Bank). Substantially all loan assets included in this segment are student loans originated under the FFEL Program, including the Stafford Loan Program, the PLUS Loan program, and loans that reflect the consolidation into a single loan of certain previously separate borrower obligations (“Consolidation” loans). AGM also acquires private education and consumer loans. AGM generates a substantial portion of its earnings from the spread, referred to as loan spread, between the yield it receives on its loan portfolio and the associated costs to finance such portfolio. The loan assets are held in a series of lending subsidiaries and associated securitization trusts designed specifically for this purpose. In addition to the loan spread earned on its portfolio, all costs and activity associated with managing the portfolio, such as servicing of the assets and debt maintenance, are included in this segment.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Nelnet Bank</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 2, 2020, the Company obtained final approval for federal deposit insurance from the Federal Deposit Insurance Corporation ("FDIC") and for a bank charter from the Utah Department of Financial Institutions ("UDFI") in connection with the establishment of Nelnet Bank, and Nelnet Bank launched operations. Nelnet Bank operates as an internet Utah-chartered industrial bank franchise focused on the private education loan marketplace, with a home office in Salt Lake City, Utah. Nelnet Bank serves and plans to serve a niche market, with a concentration in the private education and unsecured consumer loan markets.</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Corporate and Other Activities</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other business activities and operating segments that are not reportable are combined and included in Corporate and Other Activities. Corporate and Other Activities include the following items:</span></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">The operating results of Whitetail Rock Capital Management, LLC (“WRCM”), the Company's SEC-registered investment advisor subsidiary</span></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">The majority of the Company’s investment activities</span></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Interest expense incurred on unsecured and certain other corporate related debt transactions</span></div><div style="margin-bottom:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Other product and service offerings that are not considered reportable operating segments</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Corporate and Other Activities also includes certain corporate activities and overhead functions related to executive management, internal audit, human resources, accounting, legal, enterprise risk management, information technology, occupancy, and marketing. These costs are allocated to each operating segment based on estimated use of such activities and services.</span></div>
CY2020Q4 us-gaap Deconsolidation Gain Or Loss Amount
DeconsolidationGainOrLossAmount
258600000 USD
CY2020 us-gaap Deconsolidation Gain Or Loss Amount
DeconsolidationGainOrLossAmount
258588000 USD
CY2020 us-gaap Deferred Compensation Arrangement With Individual Allocated Share Based Compensation Expense
DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense
9298000 USD
CY2020 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
2339000 USD
CY2020 nni Operating Income Expense From Deconsolidation
OperatingIncomeExpenseFromDeconsolidation
246951000 USD
CY2020 us-gaap Business Combination Contingent Consideration Arrangements Change In The Range Of Outcomes Contingent Consideration Liability Value Low
BusinessCombinationContingentConsiderationArrangementsChangeInTheRangeOfOutcomesContingentConsiderationLiabilityValueLow
25000000 USD
CY2020 us-gaap Business Combination Contingent Consideration Arrangements Change In The Range Of Outcomes Contingent Consideration Liability Value High
BusinessCombinationContingentConsiderationArrangementsChangeInTheRangeOfOutcomesContingentConsiderationLiabilityValueHigh
35000000 USD
CY2020Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
2300000 USD
CY2021Q4 nni Variable Interest Entity Reporting Entity Involvement Maximum Loss Exposure Amount Syndicated To Third Party Investors
VariableInterestEntityReportingEntityInvolvementMaximumLossExposureAmountSyndicatedToThirdPartyInvestors
71511000 USD
CY2020Q4 nni Variable Interest Entity Reporting Entity Involvement Maximum Loss Exposure Amount Syndicated To Third Party Investors
VariableInterestEntityReportingEntityInvolvementMaximumLossExposureAmountSyndicatedToThirdPartyInvestors
15562000 USD
CY2021Q4 nni Variable Interest Entity Reporting Entity Involvement Maximum Loss Exposure Amount Including Syndicated To Third Party Investors
VariableInterestEntityReportingEntityInvolvementMaximumLossExposureAmountIncludingSyndicatedToThirdPartyInvestors
146120000 USD
CY2020Q4 nni Variable Interest Entity Reporting Entity Involvement Maximum Loss Exposure Amount Including Syndicated To Third Party Investors
VariableInterestEntityReportingEntityInvolvementMaximumLossExposureAmountIncludingSyndicatedToThirdPartyInvestors
104829000 USD
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make a number of estimates and assumptions that affect the reported amounts of assets and liabilities, reported amounts of revenues and expenses, and other disclosures. Actual results may differ from those estimates.</span></div>
CY2021 nni Financing Receivable Straight Line Reversion Method Period
FinancingReceivableStraightLineReversionMethodPeriod
P2Y
CY2021Q4 nni Purchased Accrued Interest
PurchasedAccruedInterest
48300000 USD
CY2020Q4 nni Purchased Accrued Interest
PurchasedAccruedInterest
92300000 USD
CY2019Q4 nni Purchased Accrued Interest
PurchasedAccruedInterest
112900000 USD
CY2020 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2019 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2021 nni Loans Receivable Consolidation Loans Rebate Fee Percent
LoansReceivableConsolidationLoansRebateFeePercent
0.0105
CY2021Q4 us-gaap Financing Receivable Accrued Interest Before Allowance For Credit Loss
FinancingReceivableAccruedInterestBeforeAllowanceForCreditLoss
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CY2020Q4 us-gaap Financing Receivable Accrued Interest Before Allowance For Credit Loss
FinancingReceivableAccruedInterestBeforeAllowanceForCreditLoss
794611000 USD
CY2021Q4 us-gaap Financing Receivable Unamortized Loan Commitment Origination Fee And Premium Discount
FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount
-25933000 USD
CY2020Q4 us-gaap Financing Receivable Unamortized Loan Commitment Origination Fee And Premium Discount
FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount
-9908000 USD
CY2021Q4 us-gaap Notes Receivable Net
NotesReceivableNet
18335197000 USD
CY2020Q4 us-gaap Notes Receivable Net
NotesReceivableNet
20185656000 USD
CY2021Q2 us-gaap Financing Receivable Significant Sales
FinancingReceivableSignificantSales
77417000 USD
CY2021Q2 us-gaap Gain Loss On Sale Of Notes Receivable
GainLossOnSaleOfNotesReceivable
15271000 USD
CY2021Q2 nni Financing Receivable Interest Income Percentage
FinancingReceivableInterestIncomePercentage
0.245
CY2021Q3 us-gaap Financing Receivable Significant Sales
FinancingReceivableSignificantSales
18390000 USD
CY2021Q3 us-gaap Gain Loss On Sale Of Notes Receivable
GainLossOnSaleOfNotesReceivable
3249000 USD
CY2021Q3 nni Financing Receivable Interest Income Percentage
FinancingReceivableInterestIncomePercentage
0.069
us-gaap Financing Receivable Significant Sales
FinancingReceivableSignificantSales
95807000 USD
us-gaap Gain Loss On Sale Of Notes Receivable
GainLossOnSaleOfNotesReceivable
18520000 USD
CY2020Q1 us-gaap Financing Receivable Significant Sales
FinancingReceivableSignificantSales
124249000 USD
CY2020Q1 us-gaap Gain Loss On Sale Of Notes Receivable
GainLossOnSaleOfNotesReceivable
18206000 USD
CY2020Q1 nni Financing Receivable Interest Income Percentage
FinancingReceivableInterestIncomePercentage
0.314
CY2020Q3 us-gaap Financing Receivable Significant Sales
FinancingReceivableSignificantSales
60779000 USD
CY2020Q3 us-gaap Gain Loss On Sale Of Notes Receivable
GainLossOnSaleOfNotesReceivable
14817000 USD
CY2020Q3 nni Financing Receivable Interest Income Percentage
FinancingReceivableInterestIncomePercentage
0.254
us-gaap Financing Receivable Significant Sales
FinancingReceivableSignificantSales
185028000 USD
us-gaap Gain Loss On Sale Of Notes Receivable
GainLossOnSaleOfNotesReceivable
33023000 USD
CY2019Q2 us-gaap Financing Receivable Significant Sales
FinancingReceivableSignificantSales
47680000 USD
CY2019Q2 us-gaap Gain Loss On Sale Of Notes Receivable
GainLossOnSaleOfNotesReceivable
1712000 USD
CY2019Q2 nni Financing Receivable Interest Income Percentage
FinancingReceivableInterestIncomePercentage
0.110
CY2019Q4 us-gaap Financing Receivable Significant Sales
FinancingReceivableSignificantSales
179301000 USD
CY2019Q4 us-gaap Gain Loss On Sale Of Notes Receivable
GainLossOnSaleOfNotesReceivable
15549000 USD
CY2019Q4 nni Financing Receivable Interest Income Percentage
FinancingReceivableInterestIncomePercentage
0.287
us-gaap Financing Receivable Significant Sales
FinancingReceivableSignificantSales
226981000 USD
us-gaap Gain Loss On Sale Of Notes Receivable
GainLossOnSaleOfNotesReceivable
17261000 USD
CY2020Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
175698000 USD
CY2021 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
-12426000 USD
CY2021 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
28742000 USD
CY2021 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
1545000 USD
CY2021 us-gaap Financing Receivable Allowance For Credit Loss Purchased With Credit Deterioration Increase
FinancingReceivableAllowanceForCreditLossPurchasedWithCreditDeteriorationIncrease
3273000 USD
CY2021 nni Purchase Saleof Financing Receivables
PurchaseSaleofFinancingReceivables
-12235000 USD
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
127113000 USD
CY2019Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
61914000 USD
CY2020 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
63360000 USD
CY2020 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
28729000 USD
CY2020 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
1763000 USD
CY2020 us-gaap Financing Receivable Allowance For Credit Loss Purchased With Credit Deterioration Increase
FinancingReceivableAllowanceForCreditLossPurchasedWithCreditDeteriorationIncrease
15800000 USD
CY2020 nni Purchase Saleof Financing Receivables
PurchaseSaleofFinancingReceivables
-29424000 USD
CY2020Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
175698000 USD
CY2018Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
60388000 USD
CY2019 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
39000000 USD
CY2019 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
28010000 USD
CY2019 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
1536000 USD
CY2019 us-gaap Financing Receivable Allowance For Credit Loss Purchased With Credit Deterioration Increase
FinancingReceivableAllowanceForCreditLossPurchasedWithCreditDeteriorationIncrease
0 USD
CY2019 nni Purchase Saleof Financing Receivables
PurchaseSaleofFinancingReceivables
-11000000 USD
CY2019Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
61914000 USD
CY2021 us-gaap Financing Receivable Purchased With Credit Deterioration Amount At Par Value
FinancingReceivablePurchasedWithCreditDeteriorationAmountAtParValue
224100000 USD
CY2020 us-gaap Financing Receivable Purchased With Credit Deterioration Amount At Par Value
FinancingReceivablePurchasedWithCreditDeteriorationAmountAtParValue
835000000 USD
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
17824087000 USD
CY2021Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
192998000 USD
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
17631089000 USD
CY2020Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
19558849000 USD
CY2020Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
238123000 USD
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
19320726000 USD
CY2021Q4 nni Other Borrowings Maximum
OtherBorrowingsMaximum
400000000 USD
CY2021Q4 nni Other Borrowings Maximum
OtherBorrowingsMaximum
400000000 USD
CY2021Q2 nni Secured Debt Repurchase Agreements Contractual Maturity Adjustment Written Notice Period
SecuredDebtRepurchaseAgreementsContractualMaturityAdjustmentWrittenNoticePeriod
P180D
CY2021Q4 nni Repurchase Agreements Private Education Loan Asset Backed Securities
RepurchaseAgreementsPrivateEducationLoanAssetBackedSecurities
208100000 USD
CY2021Q4 nni Additional Repurchase Agreement Private Education Loan Asset Backed Securities
AdditionalRepurchaseAgreementPrivateEducationLoanAssetBackedSecurities
275800000 USD
CY2021Q1 nni Interest Payable Increase Decrease Due To Likelihood Of Repayment
InterestPayableIncreaseDecreaseDueToLikelihoodOfRepayment
-23800000 USD
CY2021 us-gaap Repayments Of Debt
RepaymentsOfDebt
407487000 USD
CY2020 us-gaap Repayments Of Debt
RepaymentsOfDebt
25643000 USD
CY2019 us-gaap Repayments Of Debt
RepaymentsOfDebt
39864000 USD
CY2021 nni Debt Instrument Repurchased Face Amount During Period
DebtInstrumentRepurchasedFaceAmountDuringPeriod
406875000 USD
CY2020 nni Debt Instrument Repurchased Face Amount During Period
DebtInstrumentRepurchasedFaceAmountDuringPeriod
27605000 USD
CY2019 nni Debt Instrument Repurchased Face Amount During Period
DebtInstrumentRepurchasedFaceAmountDuringPeriod
40000000 USD
CY2021 nni Debt Issuance Expense Repurchase Amount
DebtIssuanceExpenseRepurchaseAmount
6163000 USD
CY2020 nni Debt Issuance Expense Repurchase Amount
DebtIssuanceExpenseRepurchaseAmount
38000 USD
CY2019 nni Debt Issuance Expense Repurchase Amount
DebtIssuanceExpenseRepurchaseAmount
0 USD
CY2021 us-gaap Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
-6775000 USD
CY2020 us-gaap Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
1924000 USD
CY2019 us-gaap Gain Loss On Repurchase Of Debt Instrument
GainLossOnRepurchaseOfDebtInstrument
136000 USD
CY2021Q4 nni Bonds Issued To Cover Risk Retention Policy On Loans With Beneficial Securitization
BondsIssuedToCoverRiskRetentionPolicyOnLoansWithBeneficialSecuritization
412600000 USD
CY2021 nni Retention Period After Securitization Of Investment Securities
RetentionPeriodAfterSecuritizationOfInvestmentSecurities
P2Y
CY2021 nni Debt Covenant Percent Of Principle Balance Debt Issue Required To Be Paid Before Liquidation Minimum
DebtCovenantPercentOfPrincipleBalanceDebtIssueRequiredToBePaidBeforeLiquidationMinimum
0.33
CY2021 nni Debt Covenant Percent Of Principle Balance Debt Issue Required To Be Paid Before Liquidation Minimum
DebtCovenantPercentOfPrincipleBalanceDebtIssueRequiredToBePaidBeforeLiquidationMinimum
0.33
CY2021Q4 us-gaap Equity Securities Fv Ni Cost
EquitySecuritiesFvNiCost
60153000 USD
CY2021Q4 nni Equity Securities Fvni Accumulated Gross Unrealized Gain Before Tax
EquitySecuritiesFVNIAccumulatedGrossUnrealizedGainBeforeTax
13930000 USD
CY2021Q4 nni Equity Securities Fvni Accumulated Gross Unrealized Loss Before Tax
EquitySecuritiesFVNIAccumulatedGrossUnrealizedLossBeforeTax
2097000 USD
CY2021Q4 us-gaap Equity Securities Fv Ni Current And Noncurrent
EquitySecuritiesFvNiCurrentAndNoncurrent
71986000 USD
CY2020Q4 us-gaap Equity Securities Fv Ni Cost
EquitySecuritiesFvNiCost
36227000 USD
CY2020Q4 nni Equity Securities Fvni Accumulated Gross Unrealized Gain Before Tax
EquitySecuritiesFVNIAccumulatedGrossUnrealizedGainBeforeTax
8768000 USD
CY2020Q4 nni Equity Securities Fvni Accumulated Gross Unrealized Loss Before Tax
EquitySecuritiesFVNIAccumulatedGrossUnrealizedLossBeforeTax
2954000 USD
CY2020Q4 us-gaap Equity Securities Fv Ni Current And Noncurrent
EquitySecuritiesFvNiCurrentAndNoncurrent
42041000 USD
CY2021Q4 nni Marketable Securities Amortized Cost
MarketableSecuritiesAmortizedCost
977565000 USD
CY2021Q4 nni Marketable Securities Unrealized Gain
MarketableSecuritiesUnrealizedGain
29147000 USD
CY2021Q4 nni Marketable Securities Unrealized Loss
MarketableSecuritiesUnrealizedLoss
5057000 USD
CY2021Q4 us-gaap Marketable Securities
MarketableSecurities
1001655000 USD
CY2020Q4 nni Marketable Securities Amortized Cost
MarketableSecuritiesAmortizedCost
376805000 USD
CY2020Q4 nni Marketable Securities Unrealized Gain
MarketableSecuritiesUnrealizedGain
16810000 USD
CY2020Q4 nni Marketable Securities Unrealized Loss
MarketableSecuritiesUnrealizedLoss
2967000 USD
CY2020Q4 us-gaap Marketable Securities
MarketableSecurities
390648000 USD
CY2021Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
8200000 USD
CY2020Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
0 USD
CY2021Q4 nni Beneficial Interest In Securitization Allowance For Credit Loss
BeneficialInterestInSecuritizationAllowanceForCreditLoss
4449000 USD
CY2021Q4 us-gaap Other Investments
OtherInvestments
587264000 USD
CY2020Q4 us-gaap Other Investments
OtherInvestments
602292000 USD
CY2021Q4 us-gaap Investments
Investments
1588919000 USD
CY2020Q4 us-gaap Investments
Investments
992940000 USD
CY2021Q4 nni Repurchase Agreements Private Education Loan Asset Backed Securities Face Amount
RepurchaseAgreementsPrivateEducationLoanAssetBackedSecuritiesFaceAmount
400000000 USD
CY2021Q4 us-gaap Held To Maturity Securities Debt Maturities Within One Year Fair Value
HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearFairValue
3500000 USD
CY2021Q4 us-gaap Held To Maturity Securities Debt Maturities After One Through Five Years Fair Value
HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
4700000 USD
CY2021 us-gaap Equity Securities Without Readily Determinable Fair Value Impairment Loss Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueImpairmentLossAnnualAmount
4600000 USD
CY2021 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P96M
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
52029000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
75070000 USD
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
23000000 USD
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
30800000 USD
CY2019 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
32800000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
9939000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
9830000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
7457000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
4644000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
4517000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
15642000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
52029000 USD
CY2019Q4 us-gaap Goodwill
Goodwill
156912000 USD
CY2020 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
6292000 USD
CY2020 us-gaap Goodwill Written Off Related To Sale Of Business Unit
GoodwillWrittenOffRelatedToSaleOfBusinessUnit
21112000 USD
CY2021Q4 us-gaap Goodwill
Goodwill
142092000 USD
CY2020Q4 us-gaap Goodwill
Goodwill
142092000 USD
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
326519000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
283152000 USD
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
207106000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
159625000 USD
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
119413000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
123527000 USD
CY2021 us-gaap Depreciation
Depreciation
50700000 USD
CY2020 us-gaap Depreciation
Depreciation
87900000 USD
CY2019 us-gaap Depreciation
Depreciation
72300000 USD
CY2021Q3 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
14200000 USD
CY2021Q4 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
5000000 shares
CY2021Q4 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
2600000 shares
CY2021 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
713274 shares
CY2021 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
58111000 USD
CY2021 nni Average Price Of Shares Repurchased Per Share
AveragePriceOfSharesRepurchasedPerShare
81.47
CY2020 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
1594394 shares
CY2020 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
73358000 USD
CY2020 nni Average Price Of Shares Repurchased Per Share
AveragePriceOfSharesRepurchasedPerShare
46.01
CY2019 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
726273 shares
CY2019 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
40411000 USD
CY2019 nni Average Price Of Shares Repurchased Per Share
AveragePriceOfSharesRepurchasedPerShare
55.64
CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
393286000 USD
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
393286000 USD
CY2020 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
352443000 USD
CY2020 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
352443000 USD
CY2019 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
141803000 USD
CY2019 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
141803000 USD
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38572801 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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EarningsPerShareDiluted
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EarningsPerShareDiluted
3.54
CY2019 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2019 us-gaap Earnings Per Share Basic
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CY2019 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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7200000 USD
CY2021Q4 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
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UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
5400000 USD
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CurrentFederalTaxExpenseBenefit
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CurrentStateAndLocalTaxExpenseBenefit
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CurrentStateAndLocalTaxExpenseBenefit
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169000 USD
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239000 USD
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CurrentForeignTaxExpenseBenefit
239000 USD
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CurrentIncomeTaxExpenseBenefit
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CurrentIncomeTaxExpenseBenefit
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CurrentIncomeTaxExpenseBenefit
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DeferredFederalIncomeTaxExpenseBenefit
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DeferredFederalIncomeTaxExpenseBenefit
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DeferredFederalIncomeTaxExpenseBenefit
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DeferredStateAndLocalIncomeTaxExpenseBenefit
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DeferredStateAndLocalIncomeTaxExpenseBenefit
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DeferredForeignIncomeTaxExpenseBenefit
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DeferredForeignIncomeTaxExpenseBenefit
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DeferredForeignIncomeTaxExpenseBenefit
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DeferredIncomeTaxExpenseBenefit
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DeferredIncomeTaxExpenseBenefit
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DeferredIncomeTaxExpenseBenefit
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IncomeTaxExpenseBenefit
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CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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IncomeTaxExpenseBenefit
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CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
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EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
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EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
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EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.030
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EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.025
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EffectiveIncomeTaxRateReconciliationTaxCredits
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EffectiveIncomeTaxRateReconciliationTaxCredits
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EffectiveIncomeTaxRateReconciliationTaxCredits
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0.223
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4027000 USD
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2546000 USD
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20538000 USD
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4772000 USD
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7703000 USD
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CY2021 us-gaap Late Fee Income Generated By Servicing Financial Assets Amount
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EquitySecuritiesFvNiRealizedLoss
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EquitySecuritiesFvNiRealizedLoss
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CY2021 us-gaap Gain Loss On Repurchase Of Debt Instrument
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GainLossOnRepurchaseOfDebtInstrument
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GainLossOnRepurchaseOfDebtInstrument
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OtherIncomeMiscellaneous
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OtherIncome
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OtherIncome
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OtherIncome
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CY2018Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
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ContractWithCustomerLiability
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CY2020 us-gaap Contract With Customer Liability Increase Decrease For Contract Acquired In Business Combination
ContractWithCustomerLiabilityIncreaseDecreaseForContractAcquiredInBusinessCombination
1419000 USD
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
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120935000 USD
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ContractWithCustomerLiabilityRevenueRecognizedFromPriorAndCurrentPeriod
115961000 USD
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
41170000 USD
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
14314000 USD
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
18301000 USD
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
15899000 USD
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
18733000 USD
CY2021 us-gaap Lease Cost
LeaseCost
9386000 USD
CY2020 us-gaap Lease Cost
LeaseCost
13882000 USD
CY2019 us-gaap Lease Cost
LeaseCost
12780000 USD
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y1M24D
CY2021 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
1
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y7M24D
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0323
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0243
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5816000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4122000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1757000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1421000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
731000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
3702000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
17549000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1650000 USD
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
15899000 USD
CY2019 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
10800000 USD
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
11200000 USD
CY2020 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
11700000 USD
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Discount From Market Price Purchase Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardDiscountFromMarketPricePurchaseDate
0.15
CY2021 nni Non Employee Director Stock At Lower Cost
NonEmployeeDirectorStockAtLowerCost
0.85
CY2021 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
1400000 USD
CY2020 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
1200000 USD
CY2019 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
1200000 USD
CY2021 nni Net Premium Paid For Acquisition Of Finance Receivables
NetPremiumPaidForAcquisitionOfFinanceReceivables
2600000 USD
CY2020 nni Net Premium Paid For Acquisition Of Finance Receivables
NetPremiumPaidForAcquisitionOfFinanceReceivables
2600000 USD
CY2019 nni Net Premium Paid For Acquisition Of Finance Receivables
NetPremiumPaidForAcquisitionOfFinanceReceivables
1200000 USD
CY2021Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
1001655000 USD
CY2020Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
390648000 USD
CY2021Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
1001655000 USD
CY2020Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
390648000 USD
CY2021 us-gaap Increase Decrease In Equity Securities Fv Ni
IncreaseDecreaseInEquitySecuritiesFvNi
42916000 USD
CY2020 us-gaap Increase Decrease In Equity Securities Fv Ni
IncreaseDecreaseInEquitySecuritiesFvNi
0 USD
CY2019 us-gaap Increase Decrease In Equity Securities Fv Ni
IncreaseDecreaseInEquitySecuritiesFvNi
0 USD

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